The Porter Diamond, appropriately alluded to as the Porter Diamond Theory of National Advantage, is a model that is intended to help comprehend the upper hand countries or gatherings have because of specific elements accessible to them, and to clarify how governments can go about as impetuses to enhance a nation\'s situation in a comprehensively aggressive financial condition. The model was made by Michael Porter, a perceived specialist on corporate technique and financial rivalry, and author of The Institute for Strategy and Competitiveness at the Harvard Business School. It is a proactive financial hypothesis, as opposed to one that just measures similar favorable circumstances that a nation or locale may have.
The forces are described as the below:
Factor Conditions: A county creates its own important factors such as skilled resources and technical base. The stock of factors at given time is less important than the extent that they are upgraded and deployed. Local disadvantage in factors of production force innovation.
Demand Conditions: When the market for a particular product is larger locally than in foreign markets, the local firms devote more attention to the product than do foreign firms, leading to a competitive advantage when the local firms begin exporting the product.
Related and supporting industries: At the point when nearby supporting enterprises are aggressive, firms appreciate more financially savvy and development inputs. This impact the fortified when the providers themselves are solid worldwide contenders.
Firm strategy, structure, and rivalry: While at single point in time a firm prefers less rivalry, over the long run more local rivalry is better since it puts pressure on firms to innovate and improve. Local rivalry forces firms to move beyond basic advantages that the home country may enjoy, such as low factors cost.
For example BarBar restaurant an old Lebanese restaurant specialized in fast food industry, most likely one of the primary scrumptious speedy snacks in Lebanon. The restaurant opened in 1982 amidst the common war in Hamra. Barbar today is known to be one of the greatest junk food eateries in Lebanon. The eatery has an expansive assortment of starters, sandwiches, every day platters, burgers, pizzas, squeeze, and frozen yogurt.
For the factor conditions for Barbar company getting the best staff and create always goodness in making his food and always the same taste and in affordable price to get a good delicious sandwich, and his taking the advantage with every good location like Hamra branch it’s a big one and visual for all people passed by. His affordable to all people you get a great taste sandwich with a good price. Lebanon is participating in the international trade liberalization with no long term planning and aiming in order to develop a national competitive advantage and pushing strategic industries to get benefit from factor endowments research and development and innovation.
Demand Conditions: Lebanese culture is known is known in good food and BarBar restaurant is one of the most restaurant have tasty and great quality of its product, so people’s demands for a good and a very affordable price of a sandwich is existed at Barbar restaurant you will taste all the goodness in the food and always provide the same quality and same service. Lebanese government needs to take vital activities with the end goal to encourage strategic ventures to take an interest at the global dimension and grow up quicker to address the issues of the shoppers and accomplish economies of scale. Within the Lebanese firms there is as yet a need to improve the quality guidelines of the items, through which the organizations may achieve competitive favorable position and economies of scale. Element industry in Lebanon should be.
Related and supporting industries Barbar restaurant is a great restaurant have too many big suppliers how supply him with all needed equipment, Raw Material. For example his chicken supplier is a very good Lebanese company and its Hawa Chicken and his meet is done by itself he has a specialized in sheep meet. And also the bread is also not supplied from a supplier he has someone specialized how make his own bread. And he has more than one supplier to guaranty is anything happened a missing in some sector to supply him on the spot.
Firm strategy, structure, and rivalry Barbar strategy is to keep the same quality always if someone tasted the food from 10 years and tasted it now it have the same taste same quality and same shape, this is a great strategy to keep his costumers and to show his clients that he will never change his good products. And in terms of completions and many of competitors came on like (Sandwich w Nos) and try to compete his food by using the digitalization and social media applications but when restaurant has its own portfolio no one can beat him. And he’s in the top in Lebanese fast food and he’s old and expanding in Lebanon and in different names having the same service and his using the name of BarBar to encourage people to try it. Also Ghalayini restaurant tried to beat barbar by lowering the price of Mankouche cheese from 1,500 LBP to 750 LBP and barbar mankouche price is 2,000 LBP but this didn’t change anything since he was lowering his price and lowering the material and the ingredient of the mankouche so Lebanese mind prefer to pay 2,000 LBP for a good taste food and not to buy a sandwich with no good taste and in lower price.
The banking and finance sector is a significant component of the Lebanese economy, driving growth and attracting foreign investment for the countries various thriving economic sectors. Since 2006, Lebanon has remained one of the biggest magnets for global foreign investment in the MENA region, primarily due to the country’s free economic system, favorable tax climate and the durability and quality of its banking system. Due to its resilient banking system and prudent investment framework, Lebanon was one of the few countries to enjoy positive and sustained growth amidst the global economic downturn beginning in 2007.Enacted in 2001 by Prime Minister Rafic Hariri, IDAL Investment Law Number 360 identified a set of priority